all aboard

Halliburton Labs names Bay Area investor to advisory board

Pulakesh Mukherjee, partner at Imperative Ventures, which specializes in hard tech decarbonization startups, will bring his unique experience to Halliburton Labs' network. Photo via LinkedIn

Halliburton Labs has announced its newest advisory board member — a San Francisco-based venture capital investor.

Pulakesh Mukherjee, partner at Imperative Ventures, which specializes in hard tech decarbonization startups, will bring his unique experience to Halliburton Labs' network.

"We are pleased to welcome Pulakesh as we help emerging companies achieve scale and growth. Pulakesh brings strong expertise and an expansive network throughout the early-stage energy and climate tech ecosystem. We look forward to his guidance to catalyze increased collaboration among innovators, investors, and industry," Managing Director Dale Winger says in a news release.

Mukherjee, who co-founded his firm, previously worked on energy, agriculture, chemical, and industrial deals for BASF Venture Capital

Mukherjee joins Jeff Miller, Reggie DesRoches, John Grotzinger, Jennifer Holmgren, Maynard Holt, Walter Isaacson, and Dale Winger on the Advisory Board, according to Halliburton's news release.

Halliburton Labs, a wholly owned subsidiary of Halliburton Company (NYSE: HAL), has supported energy tech startups since its inception in 2020. Its next pitch day is March 14 in New Orleans, which will also be streamed live.

Scott Gale, executive director of Halliburton Labs, recently joined the Houston Innovators Podcast to discuss Halliburton Labs' mission and commitment to the community.

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A View From HETI

Houston American Energy Corp. has acquired Abundia Global Impact Group, which converts plastic and certified biomass waste into high-quality renewable fuels. Photo via Getty Images.

Renewable energy company Houston American Energy Corp. (NYSE: HUSA) has acquired Abundia Global Impact Group, according to a news release.

Houston American reports that the acquisition will allow it to create a combined company focused on converting waste plastics into high-value, drop-in, low-carbon fuels and chemical products. It plans to move forward with Abundia’s plans for developing large-scale recycling projects, with a new facility previously announced for the Gulf Coast, located in Cedar Port Industrial Park, near the Baytown area of Houston.

New York-based Abundia used its proprietary pyrolysis process to convert plastic and certified biomass waste into high-quality renewable fuels. Its founder, Ed Gillespie, will serve as CEO of the combined company and will join HUSA’s board of directors. Peter Longo, who previously served as HUSA's CEO, will serve as chairman of the board. Lucie Harwood was named CFO and Joseph Gasik will serve as COO.

“The completion of this acquisition represents a pivotal transformation for HUSA,” Longo said in a news release. “Abundia has a commercially ready solution for converting waste into valuable fuels and chemicals, with a backlog of development opportunities utilizing proprietary technologies and key industry partnerships. This transaction gives HUSA shareholders a ready-made platform and project pipeline for future value generation as the fuel and chemical industries accelerate their adoption of low-carbon solutions and sustainable aviation fuel.”

The combined company plans to serve what it estimates is a multi-billion-dollar global demand for renewable fuels, Sustainable Aviation Fuel (SAF) and recycled chemical feedstocks, according to the news release.

“This is a landmark moment for Abundia and a major step forward for the renewable industry,” Gillespie added in the release. “Joining forces with HUSA and entering the public capital markets positions us to accelerate growth, scale our technology and expand our influence within the renewable and recycling industries. I am proud of the hard work and determination of both the AGIG and HUSA teams to finalize this transaction. We look forward to delivering shareholder value and critical technologies to reduce carbon emissions.”

Houston American Energy announced the deal in March. The company also closed a $4.42 million registered direct offering in January.

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